Believe it or not, there are clear signs buyer interest is heating up again in places like Chicago, Illinois, and across the country.
Let’s talk about what’s really going on behind the scenes, and why the housing market forecast might not be as quiet out there as it seems.
Buyers Are Looking, and Search Trends Prove It
One of the clearest ways to measure what people are thinking about is to look at what they’re searching for online. And according to Google Trends, searches for phrases like “home for sale” have been climbing steadily this year.
The graph below shows an index of two common homebuyer search phrases and their popularity on Google over the past two years. The higher the line goes, the more popular that phrase is.
A 100 on the graph shows the most popular time for each phrase:
Here’s what stands out in this data. Both phrases have been trending up overall this year, and they hit a recent high in mid-July. That’s a pretty strong sign that curiosity (and maybe even interest) in buying a home is improving.
That kind of momentum means something.
Despite high mortgage rates and home prices, buyers haven’t given up. They’re still watching the market. They’re still browsing. And many are just waiting for the right opportunity to act.
If you’re curious about what’s happening behind the headlines, check out our post on what many headlines overlook.
Maybe your house is precisely what they’re looking for. But you’ll never know if it’s not listed yet.
Now, this doesn’t mean demand is going to surge like it did during the pandemic. It just means some buyers are deciding they can’t wait any longer.
And those are precisely the kind of buyers you want. Motivated. Eager. Ready to move when the right house comes along.
If you’re wondering what type of homes buyers want right now, we recently shared that more starter homes are hitting the market.
So, if you’re holding off on selling because you’re not sure if the demand is there, this data suggests it might be time to rethink your plans. Because while it’s not 2021-level demand, it doesn’t need to be.
You don’t need ten offers to sell your home. You need the right buyer.
And that buyer may be searching for a house like yours right now.
And that buyer may be searching for homes or properties just like yours right now — especially in high-interest markets like Chicago, Illinois.
Ready to List While Buyer Interest is Rising?
If you’ve been thinking, “I’ll sell once buyers come back,” you might want to take another look. Online search trends show they’re already interested.
Let’s talk about your goals, the value of your home, and how you can stand out in today’s housing market forecast.
[If you’re wondering about timing, check out our New Year, New Home Guide for helpful tips.]
Not sure what your home is worth today? Here’s how to get an expert agent’s accurate home value.
Curious about my house value or wondering, “Are condos a good investment this year?” Let’s connect and get your questions answered.
Your buyer may already be searching — let’s make sure they find you.
